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The department Chair estimates the cost of lab equipment budget as given below: New equipment cost for every 5 years forever: $600,000 Perpetual annual O

The department Chair estimates the cost of lab equipment budget as given below:

New equipment cost for every 5 years forever: $600,000 Perpetual annual O & M Cost: $6,000 Nominal market interest rate = 6% Determine the endowment fund to be set aside now.

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